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If someone starts flaming you PM me with a screenshot of the incident and I will ban them if its legit. Do not flame them back, it makes our work as admins harder figuring out who started it. So if you flame them back, you may get banned too.
@  neddihrehat : (21 February 2018 - 06:49 AM) See you bye
@  neddihrehat : (21 February 2018 - 06:48 AM) Hahahaha,.
@  traderpusa : (21 February 2018 - 06:48 AM) Wife called dinnertime, so Traderpusa out lol. See you later ! Will be back to watch Falcon 9 launch.
@  traderpusa : (21 February 2018 - 06:47 AM) sure, I tell about my life in every shoutbox lol.
@  neddihrehat : (21 February 2018 - 06:46 AM) I like retraces.
@  traderpusa : (21 February 2018 - 06:46 AM) without any indicators.
@  neddihrehat : (21 February 2018 - 06:46 AM) Nah, tell me how are you doing in your life.
@  traderpusa : (21 February 2018 - 06:46 AM) https://gyazo.com/93...e94bb7301c194ef One of the guys just went long on UJ, and look at it go lol.
@  traderpusa : (21 February 2018 - 06:44 AM) The simple break retrace has been working for years, and still does.
@  traderpusa : (21 February 2018 - 06:43 AM) Actually doing fine trading wise. Getting most days my daily profit target, with of course keeping an eye on margin.
@  neddihrehat : (21 February 2018 - 06:42 AM) How are you doing bro? @traderpusa
@  traderpusa : (21 February 2018 - 06:32 AM) cashed in twice today on euro short.
@  traderpusa : (21 February 2018 - 06:32 AM) https://gyazo.com/63...3643845ec11b56c
@  traderpusa : (21 February 2018 - 05:39 AM) just ignore traderpusy lol.
@  neddihrehat : (21 February 2018 - 05:23 AM) Hahahaha
@  shaileshm : (21 February 2018 - 05:23 AM) as if with forex nothing vanishes lol
@  traderpusa : (21 February 2018 - 03:28 AM) seems you woke up from your hibernation lol
@  traderpusa : (21 February 2018 - 03:27 AM) still lazy lol
@  neddihrehat : (21 February 2018 - 03:16 AM) How are you doin?
@  neddihrehat : (21 February 2018 - 03:16 AM) Hi Lazy trader :D

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The broker that doesn't care if you win or lose - Spectre.ai


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21 replies to this topic

#21 noux2902

noux2902

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Posted 07 February 2018 - 09:44 AM

Right now your money is with the broker and when you enter a trade the broker system uses the money you have already deposited there, instantly. The way I understand what Spectre is proposing, and that may have changed since I looked at them, is that you do not deposit any funds with them, but rather that funds are used directly from your crypto account. In real life real time trading that would mean that the transfer of funds would have to be instant, and that is simply not the case. Because right now the technology to do that does not exist. Initially they had proposed that they would create a new crypto currency, apparently they have abandoned that. A separate crypto currency created by them would basically have been similar to a broker account that you deposit in, in this case with proprietary tech, which may be difficult to access if they would go belly up. So not surprising that they pivoted from that. 

And if they cannot guarantee instant money transfer and instead you have to wait until money is transferred from crypto into whatever trading entity they develop, then that time lag can be costly. At the moment transfers can take hours. Not good for trading. It will be interesting to see what solution they can  find for this.

 

And the wishful thinking that your crypto will not go below the value when you invested is, well, wishful thinking. You are doing a double trade of sort. The draw of course is if crypto goes up you get a double return. Whoohoo. And then of course there will be a lot of sobbing and whaling when it goes the other way... If there was a crypto currency that was pinned to a real life currency, different story. That may actually come sooner than we may think. There are several countries exploring that. That may actually be the tech to replace cash. The block chain tech has gotten a lot of attention from banks, including central banks. The tech behind Ripple is what banks are drooling over at the moment. Not their currency, their tech.

Some more points to clear up:

 

Point 8: "Right now your money is with the broker and when you enter a trade the broker system uses the money you have already deposited there, instantly. The way I understand what Spectre is proposing, and that may have changed since I looked at them, is that you do not deposit any funds with them, but rather that funds are used directly from your crypto account. In real life real time trading that would mean that the transfer of funds would have to be instant, and that is simply not the case. Because right now the technology to do that does not exist."

That is inaccurate. You can trade from their onsite private escrow or offsite crypto wallet. I've already mentioned this, the trade entry and exit in BO is synthetic, funds dont have to be there as long as they have left the wallet the system knows by checking on etherscan. The transaction bridge records the entries and exists and the verification layer takes care of the rest.

 

Point 9: “Initially they had proposed that they would create a new crypto currency, apparently they have abandoned that.”

They never wanted to create their own cryptocurrency, but yeah, now they're actually working on their own chain. You are confusing them exploring other chains for quicker verifications (like EOS, Cardano), something they always said they would do. They didn't pivot or abandon anything.

 

Point 10: A separate crypto currency created by them would basically have been similar to a broker account that you deposit in, in this case with proprietary tech, which may be difficult to access if they would go belly up. So not surprising that they pivoted from that.

Not correct.  A separate crypto currency would need to have consensus ledger distribution and verification like any mainstream blockchain. So in order for it to be decentralised it would need a mining incentivization system, and then it would be ready to process trade transactions on Spectre.ai. Its not the same as "depositing money at a broker account".  If they created a working blockchain just for Spectre, it would need smart contract capability (to process trades from and to the DALP). In order for smart contracts to be immutable, decentralisation would need to occur first. Funds would then be deposited into immutable smart contracts....which mean they are secure.

 

Point 11: "And if they cannot guarantee instant money transfer and instead you have to wait until money is transferred from crypto into whatever trading entity they develop, then that time lag can be costly. At the moment transfers can take hours. Not good for trading. It will be interesting to see what solution they can  find for this."

Trade outcomes are instant like at any broker. After verification which takes a few minutes, the funds are in your onsite private escrow and you can withdraw them every 24 hours (or even earlier if im not mistaken because of the new sc they are releasing). If your’e trading from your offliste crypto wallet you gotta pay gas, but you get your money within the minute after the trade has expired...even in network congestion it takes like 2-3 minutes tops. That doesn’t mean you get delayed pricing.

 

Point 12: “And the wishful thinking that your crypto will not go below the value when you invested is, well, wishful thinking. You are doing a double trade of sort. The draw of course is if crypto goes up you get a double return. Whoohoo. And then of course there will be a lot of sobbing and whaling when it goes the other way... If there was a crypto currency that was pinned to a real life currency, different story. That may actually come sooner than we may think.”

It exists (smh) its called Tether and you can look it up. Hugely risky project. Your point on FX risk is already touched upon earlier.

 

 

Keep checking the Spectre.ai homepage, so you stay informed.

 



#22 nikl0718

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Posted 07 February 2018 - 01:47 PM

Some more points to clear up:

 

Point 8: "Right now your money is with the broker and when you enter a trade the broker system uses the money you have already deposited there, instantly. The way I understand what Spectre is proposing, and that may have changed since I looked at them, is that you do not deposit any funds with them, but rather that funds are used directly from your crypto account. In real life real time trading that would mean that the transfer of funds would have to be instant, and that is simply not the case. Because right now the technology to do that does not exist."

That is inaccurate. You can trade from their onsite private escrow or offsite crypto wallet. I've already mentioned this, the trade entry and exit in BO is synthetic, funds dont have to be there as long as they have left the wallet the system knows by checking on etherscan. The transaction bridge records the entries and exists and the verification layer takes care of the rest.

 

Point 9: “Initially they had proposed that they would create a new crypto currency, apparently they have abandoned that.”

They never wanted to create their own cryptocurrency, but yeah, now they're actually working on their own chain. You are confusing them exploring other chains for quicker verifications (like EOS, Cardano), something they always said they would do. They didn't pivot or abandon anything.

 

Point 10: A separate crypto currency created by them would basically have been similar to a broker account that you deposit in, in this case with proprietary tech, which may be difficult to access if they would go belly up. So not surprising that they pivoted from that.

Not correct.  A separate crypto currency would need to have consensus ledger distribution and verification like any mainstream blockchain. So in order for it to be decentralised it would need a mining incentivization system, and then it would be ready to process trade transactions on Spectre.ai. Its not the same as "depositing money at a broker account".  If they created a working blockchain just for Spectre, it would need smart contract capability (to process trades from and to the DALP). In order for smart contracts to be immutable, decentralisation would need to occur first. Funds would then be deposited into immutable smart contracts....which mean they are secure.

 

Point 11: "And if they cannot guarantee instant money transfer and instead you have to wait until money is transferred from crypto into whatever trading entity they develop, then that time lag can be costly. At the moment transfers can take hours. Not good for trading. It will be interesting to see what solution they can  find for this."

Trade outcomes are instant like at any broker. After verification which takes a few minutes, the funds are in your onsite private escrow and you can withdraw them every 24 hours (or even earlier if im not mistaken because of the new sc they are releasing). If your’e trading from your offliste crypto wallet you gotta pay gas, but you get your money within the minute after the trade has expired...even in network congestion it takes like 2-3 minutes tops. That doesn’t mean you get delayed pricing.

 

Point 12: “And the wishful thinking that your crypto will not go below the value when you invested is, well, wishful thinking. You are doing a double trade of sort. The draw of course is if crypto goes up you get a double return. Whoohoo. And then of course there will be a lot of sobbing and whaling when it goes the other way... If there was a crypto currency that was pinned to a real life currency, different story. That may actually come sooner than we may think.”

It exists (smh) its called Tether and you can look it up. Hugely risky project. Your point on FX risk is already touched upon earlier.

 

 

Keep checking the Spectre.ai homepage, so you stay informed.

 

nice, thanks mate.






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